LEGACY GIVING

The North Andover Historical Society Educator Endowment Fund is established to ensure the long-term financial stability of the museum educator position, thereby securing the Society's mission for future generations. This endowed fund will provide a dedicated and sustainable source of income to support the museum educator's salary, benefits, professional development, and essential resources.

In the event of the North Andover Historical Society ceasing operations, the Educator Fund will be transferred to a designated successor organization within North Andover with a similar mission of supporting history education. The preferred recipients are the North Andover Public Schools to directly support history or civic education, or the Essex County Community Foundation (ECCF) as an independent fund dedicated to furthering history education.

The North Andover Historical Society Archivist Endowment Fund is established to ensure the long-term financial stability of the Archivist and Curatorial positions, thereby securing the Society’s mission for future generations. This endowed fund will provide a dedicated and sustainable source of income to support the Society’s archivist and curator salaries, benefits, professional development and essential resources including exhibit design and materials.  

You may make a donation in any amount to the 2 NAHS Endowment Funds: The NAHS Educator Endowment Fund or The NAHS Archivist/Curator Endowment Fund.

DONATE HERE.

ECCF stands for the ⁠Essex County Community Foundation, a major philanthropic nonprofit organization headquartered in Beverly, Massachusetts. Established to serve all 34 cities and towns in Essex County, ECCF acts as a central hub for regional giving to improve the quality of life for the county's 800,000+ residents.

An endowment fund is a permanent pool of invested assets. The original principal—the "corpus"—is held indefinitely, while a set portion of the investment earnings is distributed annually to support the organization's mission. It functions like a perpetual savings account, providing reliable long-term financial stability.

How Endowments Work

1. The Principal: Donors contribute cash or assets with the legal restriction that the principal cannot be spent.

2. Investment & Growth: The funds are invested in stocks, bonds, or other vehicles. The principal grows over time through market appreciation and reinvested earnings.

3. Payout: Each year, the nonprofit withdraws a specific, prudent percentage (often 3% to 5%) of the fund's total value to fund operations or specific programs.

Here are a few key things ECCF does:

• A 501c3 charitable organization can establish a Nonprofit Agency Fund to create a lasting source of capital in support of their mission, as well as for specific purposes like a capital campaign. Nonprofits can take advantage of ECCF’s investment services and the administrative ease of having ECCF manage and distribute funds.